Field of the Invention
The present invention relates generally to the field of systems for buying and selling tradeable assets. More particularly, the present invention relates to computerized systems and methods for displaying information about tradeable assets and allowing a user to interact with the display to effect trades.
Description of the Related Art
Through the years, methods for trading financial instruments, such as securities or derivatives, have evolved from manual, paper-intensive processes to electronic, often automated processes. Advances in technology have reshaped the way in which both exchanges and trading institutions conduct business. As a result, traders can directly contact the market from nearly anywhere and in near real-time, without the need to make personal contact with a broker.
Because most exchanges throughout the world now support electronic trading systems, a larger number of traders participate within the markets at any given time. The increase in the number of potential traders has led to more competition, liquidity, and volatility. As a result, the speed at which traders can receive data (i.e., market data) and submit trade orders to exchanges has become of great importance.
There are generally two different types of electronic markets: displayed and dark (or undisplayed). Displayed markets publish data regarding bids and offers while dark markets do not publish the data. Traders typically use trading software, which includes a computer interface that displays market data (i.e., from published markets) and tracks the trader's market positions (e.g., portfolio of investments, pending orders, contemplated orders, etc.). Such trading applications may include interactive screens that enable traders to obtain market quotes, to enter and execute orders, and monitor positions while implementing various trading strategies.
Currently known trading applications have the disadvantage that they do not allow efficient execution and management of trades across multiple asset classes. Furthermore, in markets characterized by rapidly fluctuating prices, the user display must be frequently updated, which can make executing trades difficult. Thus, there is a need for new and improved systems and methods for electronic trading.